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Next to El Dorado Ranch is a sister community called
La Ventana del Mar, which has been created by an American developer
in conjunction with El Dorado Ranch. Here, a lovely 300-unit beachside condominium
community, Las Villas, is being developed. As of this
writing, the project is sold out, but those interested in owning a
unit overlooking either the 18-hole Las Caras Golf Course or the Sea
of Cortez may add their name to a list and then be contacted as more
units are built and become available for sale. There are four
floor plans from which to choose, and the 300 units are being
divided among 75 buildings, assuring quiet living and privacy
between neighbors. Condo prices start at $250,000. La Ventana is also home to 760 beachside
and golf residential lots and will be anchored by a 240-room hotel
and world-class spa. Homes are still being built by
owners; there are no completed homes for re-sale right now.
Homes are being built with either electrical or solar
energy.
Snowbird retirees and RVers will be glad to know
that El Dorado Ranch also has a beautiful RV park directly on the
beach. The phone number is 877-787-2624.
El Dorado Ranch amenities include the Beach and
Tennis Club with an Olympic-size, heated pool (the only one in San
Felipe); water aerobics, yoga classes, tennis lessons, card games
and more are on the weekly schedule. The two restaurants at
the Club are La Palapas Bar and Grill are Juanito's Cantina, and La
Ventana also has a restaurant. The Sea of Cortez has some of
the best fishing in the world, and Sea Bass fishing in particular
draws anglers from the southern U.S. Residents
also enjoy just strolling the beaches, taking off-road buggy rides,
clamming, sea shell collecting, sea kayaking and just soaking up the
sun with a Margarita in hand. Call 877-787-2624 for more
information. The sales office is located in Colorado.
It is a common misconception that foreigners cannot
buy property in Mexico, but that is not the case. Financing is
available through the development, and several U.S. companies,
including Stewart Title Guaranty, offer title insurance.
Within the Restricted Zone, in which El Dorado Ranch is located,
a foreigner may obtain all the rights of ownership, but it must be
through a bank trust known as a Fideicomiso. This means
that the buyer must request a Mexican bank of his/her choice to act
as a trustee on his/her behalf, and the buyer must have a temporary
resident FM-3 visa, renewable every 5 years, to enter into a
Fideicomiso because once a foreigner signs a real estate contract,
he is no longer a tourist.
An FM-3 is one step up from the
tourist visa and gives one many more rights in Mexico, but there are
minimum requirements for obtaining one, including, at this writing,
proof of income ($1,000/month for a single and $1,500/month for a
couple). The FM-3 can be obtained at any Mexican Consolate in
the United States and is roughly $175. After obtaining
the FM-3, one has 90 days to enter Mexico and take furniture across
the border duty-free.
San Felipe is still a sleepy Mexican village with an
economy based on fishing and now some tourism; it has a promising
future, particularly with the new El Rancho and La Ventana
developments. Retirement here is mellow, slowly-paced and
essentially comprised of sand and sun.
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